Cenvat credit

Aman Thakur (Sr. Asstt. in Warehouse)   (39 Points)

09 June 2016  
We are manufacturer and exporter of pharmaceutical products. We have export material on duty payment and claim rebate under rule 18. The department has sanctioned the rebate amount by cheque. Now the materials exported have been rejected by the overseas buyers and consequently no foreign exchange (export proceeds) has been realized. Now, considering the fact that no foreign exchange has been realized against export and the issue in hand is revenue neutral, the Company has paid back the rebate amount received in cash to deptt. by depositing cash by GAR-7. My query is are we eligible to take credit against GAR-7 challan or not. I am confused.